When a business cycle is affected by international relations, new discoveries, and social or political changes, it is said to have been changed by __________ factors.
A. extraneous
B. external
C. internal
D. intrinsic
B. external
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If the price of a good increases, the quantity supplied will
A. increase. B. decrease. C. not change. D. quantity supplied is unchanged, but the supply will increase.
Refer to the table below. If the discount rate is 6 percent and the cost of the investment is $45,000, what is the net present value of the investment?
The above table shows the future operating profits from an investment. The future operating profits are earned at the end of each of the respective years.
A) -$1,074.48
B) $1,100.56
C) $43,925.52
D) -$44,852.36
If the monopolist’s supply curve is drawn, it is a positively sloped curve similar to that for the perfectly competitive market.
Answer the following statement true (T) or false (F)
A policy of fiscal austerity could have difficulty lowering the debt-to-GDP ratio because it might:
A. lower both GDP growth and government revenue. B. lower potential output and government spending. C. raise potential output and government spending. D. raise both GDP and government revenue.